Changing your direct deposit information for your tax refund with TurboTax can feel like a maze, especially if you're not sure where to start. But don't worry, we're here to guide you through it! The most crucial thing to understand upfront is that timing is everything. Whether you can easily change your direct deposit depends entirely on whether you've already filed your tax return.
Ready to dive in and get this sorted? Let's go!
Changing Direct Deposit for TurboTax: A Step-by-Step Guide
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| How To Change Direct Deposit For Turbotax |
Step 1: Assess Your Filing Status - Have You Filed Yet?
This is the absolute first question you need to ask yourself. Have you already clicked that "File" button in TurboTax and sent your return off to the IRS (or your state tax agency)? Your ability to change direct deposit details hinges on this.
Scenario A: "Nope, I haven't filed yet!"
Great news! This is the ideal scenario. If your return hasn't been e-filed or mailed, you have full control over your direct deposit information within TurboTax. You can easily update your bank account and routing numbers before transmitting your return.
Scenario B: "Uh oh, I already filed!"
Hold on a minute. This is where things get a bit trickier. Once your return has been e-filed and accepted by the IRS, you generally cannot change your direct deposit information through TurboTax or directly with the IRS. We'll cover what happens in this situation and what your limited options are.
Step 2: If You HAVEN'T FILED Yet: Updating Your Direct Deposit Information
If you're in Scenario A, consider yourself lucky! Changing your direct deposit information is a straightforward process within TurboTax.
Sub-heading 2.1: Navigating to the Refund Section in TurboTax
Log In to Your TurboTax Account: Go to the TurboTax website (turbotax.intuit.com) and sign in using your credentials.
Open or Continue Your Return: From your TurboTax Online Home screen, make sure you're in the tax year for which you want to change the direct deposit.
Find the "File" Section: Look for the "File" or "Review & File" section. This is typically one of the last steps in the tax preparation process.
Locate "Your Refund/Payment Info": Within the "File" section, you'll need to find a step related to "Your refund/payment info" or "How you want to receive your refund." It might be labeled as "Step 2" in some versions. You'll likely see options like "Start," "Revisit," or "Continue" next to it. Click on that!
Sub-heading 2.2: Entering Your New Bank Details
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Choose Direct Deposit: On the "Get your refund" screen (it might even say "Get your refund up to 5 days early"), you'll typically see various refund options. Select "Direct deposit." You might need to click "See all options" first to reveal this choice.
Update Account Information: If your previous year's bank information is pre-filled, you'll usually be given an option to use a different bank or to change the existing information.
Carefully Enter New Details: This is the most critical step. You will need your:
Bank Routing Number: This is a nine-digit code that identifies your financial institution. You can usually find it on your checks or by logging into your online banking.
Bank Account Number: This is your specific account number at the bank. Double-check every single digit.
Account Type: Indicate whether it's a "Checking" or "Savings" account.
Review and Confirm: Triple-check all the numbers you've entered. A single incorrect digit can lead to significant delays and complications. TurboTax will usually ask you to re-enter the information to confirm accuracy.
Save Your Changes: Follow the on-screen prompts to save your updated direct deposit information.
Proceed to File: Once your bank details are correct, you can continue with the filing process and submit your tax return.
Step 3: If You HAVE ALREADY FILED: Understanding Your Options and What Happens Next
If you're in Scenario B, remember this key rule: once your return is e-filed and accepted by the IRS, you CANNOT change your direct deposit information through TurboTax or directly with the IRS.
Sub-heading 3.1: What Happens if the Direct Deposit Fails?
If you provided incorrect bank account information, or if the account is closed, the bank will reject the direct deposit. When this happens:
Refund Sent Back to IRS: The bank will send the refund money back to the IRS.
Paper Check Issued: The IRS will then issue a paper check and mail it to the address you provided on your tax return.
Significant Delay: Expect a delay of at least several weeks (and potentially longer during peak tax season) to receive your refund as a paper check.
Sub-heading 3.2: Limited Scenarios for Intervention (Pre-Acceptance)
There's a very narrow window where you might have an option:
If Your Return is Rejected: If your e-filed return is rejected by the IRS (perhaps due to incorrect personal information, but not usually due to incorrect bank details alone), you will have the opportunity to correct and re-file it. Only then can you update your direct deposit information within TurboTax before re-submitting.
Contacting the IRS (Extremely Rare Success): Some sources suggest that if your return has been e-filed but not yet processed by the IRS, you might be able to call the IRS (800-829-1040) to try and stop the direct deposit. However, this is highly unlikely to be successful and should not be relied upon. The IRS strongly advises against trying to make changes once accepted. If they do manage to stop it, they will then issue a paper check.
Sub-heading 3.3: What You Cannot Do
Amend Your Return to Change Direct Deposit: Filing an amended return (Form 1040-X) is not for changing direct deposit information. It's for correcting errors in income, deductions, or credits.
Change It Through Your Bank: Your bank cannot alter the direct deposit instructions sent by the IRS.
Step 4: Monitoring Your Refund Status
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Regardless of whether you've updated your direct deposit or are waiting for a paper check, it's always a good idea to monitor your refund status.
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Sub-heading 4.1: Using the IRS "Where's My Refund?" Tool
The most reliable way to check the status of your federal refund is directly with the IRS:
Visit the IRS Website: Go to the IRS "Where's My Refund?" tool: irs.gov/refunds.
Provide Information: You'll need to enter your:
Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
Filing Status (Single, Married Filing Jointly, etc.)
Exact Refund Amount (as shown on your tax return)
Check Status: The tool will provide you with the status of your refund: "Return Received," "Refund Approved," or "Refund Sent." It will also indicate if it's being direct deposited or mailed as a check.
Sub-heading 4.2: Checking Your State Refund Status
If you're expecting a state refund, you'll need to check your state's specific tax agency website. Search for "[Your State Name] tax refund status."
Step 5: Important Considerations and Tips
Accuracy is Paramount: When entering bank information, double-check everything. A single incorrect digit can cause significant delays.
Fees for Paying with Refund: Be aware that if you choose to have your TurboTax fees deducted from your federal refund, there's often an additional processing fee (e.g., $40). This is separate from the direct deposit itself and is for the convenience of paying TurboTax from your refund. You can avoid this fee by paying upfront with a credit/debit card.
Keep Records: Always keep a copy of your filed tax return, which includes the direct deposit information you provided.
Contact Your Bank: If you entered incorrect information and your refund was sent to the wrong account, contact your bank immediately. They may be able to advise if the funds were rejected or deposited elsewhere.
Protect Your Information: Be wary of phishing scams that ask for your bank information via email or unofficial websites. Only use official IRS and TurboTax channels.
10 Related FAQ Questions
Here are some frequently asked questions about changing direct deposit for TurboTax, with quick answers:
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How to check if my direct deposit information is correct in TurboTax before filing?
You can review your entered direct deposit information in the "File" section of TurboTax, specifically in the "Your refund/payment info" step, before you submit your return.
How to change direct deposit for my state refund in TurboTax?
The process for changing state direct deposit information in TurboTax is generally the same as for federal, as you'll input both sets of bank details within the "File" or "Refund" section before e-filing.
How to find my bank's routing number and account number for direct deposit?
Your bank's routing number and your account number can typically be found on your checks (the routing number is usually the first nine digits at the bottom left) or by logging into your online banking portal or contacting your bank directly.
How to avoid the "pay with refund" fee in TurboTax?
To avoid the additional processing fee for paying TurboTax fees from your federal refund, choose to pay for TurboTax directly with a credit or debit card during the filing process.
How to track my federal tax refund after changing direct deposit in TurboTax?
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You track your federal tax refund using the IRS "Where's My Refund?" tool on the IRS website (irs.gov/refunds) by providing your SSN, filing status, and exact refund amount.
How to change direct deposit if my TurboTax return is rejected by the IRS?
If your TurboTax return is rejected by the IRS, you will be able to log back into TurboTax, make the necessary corrections (including updating your direct deposit information if it was incorrect), and re-file your return.
How to get my refund if my incorrect direct deposit information was accepted by the IRS?
If incorrect direct deposit information was accepted by the IRS, the bank will reject the deposit and return the funds to the IRS. The IRS will then issue a paper check and mail it to the address on your tax return, which will cause a delay.
How to contact TurboTax support for direct deposit issues?
You can find TurboTax support options, including their community forums, help articles, and ways to contact them, by visiting the TurboTax support website (ttlc.intuit.com).
How to know if my direct deposit was sent to a closed bank account?
If your direct deposit was sent to a closed account, the bank will reject the transfer and return the funds to the IRS. The IRS will then typically issue a paper check to your mailing address on file.
How to prevent future direct deposit errors in TurboTax?
Always double-check and triple-check your routing and account numbers before submitting your tax return. Consider saving your updated bank information within your TurboTax profile for next year, but always verify it before filing.
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